Oil and fuel firm Shell earned €8.66 billion ($9.6 billion) in income in the first quarter of 2023, the corporate stated Thursday in a press release.
By disrupting vitality provide chains in Europe, Russia’s battle in Ukraine has pushed up costs throughout the Continent, giving a serious increase to vitality firms’ earnings, riling Kyiv and placing strain on European governments to raise their tax rate.
Last week, British oil firm BP announced it had made €4.54 billion (£4 billion) income over the identical interval.
Both firms made document income final 12 months: Shell earned €36 billion ($40 billion) and BP €25 billion ($27.7 billion).
Ukraine is not joyful — and desires oil firms to make use of their bumper income to assist it out.
In an interview with POLITICO in March, Ukrainian Energy Minister German Galushchenko urged main vitality firms to donate windfall income as a result of battle, which he estimated at “greater than $200 billion” (€180 billion), to assist his nation rebuild its energy sector.
